QualityStocks would like to highlight
First Titan Corp. (
OTCQB: FTTN), focused on exploring and developing oil and natural gas resources in the southern region of the United Sates, but with a worldwide growth strategy in place. The company continually seeks to partner with energy developers that are pursuing innovative new methods of oil and gas extraction, including the development of new technologies, cleaner methods, and unconventional resources.
In the company’s news,
First Titan is focused on deliberate efforts to usher in an energy revolution and capitalize on the demand for U.S.-derived oil and gas. Cries for organic resources continue to grow, and First Titan aims to answer this broad appeal by utilizing cutting-edge technology to extract resources that were once deemed too difficult or expensive to recover.
The company continually seeks to partner with energy developers with the same vision: pursuing innovative new methods of oil and gas extraction, including the development of new technologies, cleaner methods, and unconventional resources.
To see this vision into fruition, First Titan has acquired multiple working interests with established oil exploration companies to deliver new hydrocarbons to an ever-growing market. First Titan’s primary focus (among other projects) is on drilling activities at its acquisition in South Lake Charles, Louisiana.
The South Lake Charles Prospect is located seven miles south of the city of Lake Charles. Production estimates for the South Lake Charles well reveal that 60 billion cubic feet of gas (BCFG) and 4 million barrels of oil (MMBO) could be extracted.
First Titan partner Intrepid Drilling owns rights to all depths in 453 contiguous acres at the prospect and plans call for the company to drill to a total depth of 15,300 ft. at the project location. Intrepid Drilling will operate the well.
The most likely case for proved and probable reserves is 26 billion cubic feet gas and 2 million barrels of oil. First Titan also has the right to participate in a second well, a 14,800-foot test in the Northern fault block to recover proved, undeveloped reserves in the Lower Hackberry sand up dip of the Moran Exploration No. 1 Burton, which produced 16.7 BCFG and 1.3 MMBO.
The United States currently imports around 20 percent of its total energy needs. But if International Energy Agency (IEA) projections prove correct, the nation will become all but self-sufficient in net terms — a dramatic reversal of the trend seen in most other energy importing countries and widening First Titan’s potential market share.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
